AP Source: Panthers WR Smith signs extension

FILE - In this Oct. 3, 2010 file photo, Carolina Panthers wide receiver Steve Smith (89) leaves the field on a cart after being injured in an NFL football game against the New Orleans Saints in New Orleans.

CHARLOTTE, N.C. — A person familiar with the situation says Panthers five-time Pro Bowl wide receiver Steve Smith has agreed to a contract extension that will likely keep him with Carolina for the remainder of his NFL career.

The new contract runs through the 2015 season, the person told The Associated Press Tuesday on condition of anonymity because the team has not yet announced the deal. Smith's contract was to expire after the 2012 season.

The Panthers have a called a news conference for later Tuesday.

Smith, who turns 33 in May, has spent all 11 seasons with the Panthers. He was selected to the Pro Bowl last season after catching 79 passes for 1,394 yards with seven touchdowns playing alongside rookie quarterback Cam Newton.